PANews reported on June 23 that according to Lookonchain analysis, AguilaTrades lost more than $35 million in two weeks due to trading Bitcoin perpetual contracts. On June 8, he created a new wallet and transferred $39.18 million USDC from Bybit to Hyperliquid for trading.

On June 9, he started to go long on Bitcoin, with unrealized gains reaching $5.76 million at one point, but he did not close his position. Then, due to the conflict between Israel and Iran, Bitcoin plummeted, and he closed his position at a loss of $12.47 million. On June 15, he went long again, with unrealized gains reaching up to $10 million, but again he did not close his position, and ended up with a loss of $2.95 million. On June 20, he went long for the third time, with unrealized gains reaching $3.2 million, but he still did not take profit, and ended up losing $17 million.

After three consecutive failed long positions, he turned to shorting, but Bitcoin rebounded, resulting in a further loss of $2.33 million.